UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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| Item 1.01 | Entry into a Material Definitive Agreement |
Agreement with Christopher J. Killoy
On November 10, 2020, Sturm, Ruger & Company, Inc. (the “Company”) entered into an Amended and Restated Agreement (the “Killoy Agreement”) with Christopher J. Killoy (“Killoy”), the Chief Executive Officer of the Company.
The Killoy Agreement provides for (i) Killoy to continue to serve as Chief Executive Officer of the Company until the 2025 Annual Meeting of the Company’s stockholders, and to resign from such position on such date, (ii) Killoy to provide certain consulting, advisory and other services to the Company following such resignation until December 31, 2026, (iii) the Company to compensate Killoy for such services at the rate of $500,000 per annum, (iv) the continued vesting of Killoy’s restricted stock unit awards as if Killoy remained employed as the CEO of the Company and (v) a prohibition against Killoy engaging in certain activities that compete or interfere with the Company during the period he is providing services under the Killoy Agreement.
The foregoing description of the Killoy Agreement is qualified in its entirety by reference to the complete terms and conditions of the Killoy Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 5.02 | Compensatory Arrangements of Certain Officers |
Reference is made to the Killoy Agreement described under Item 1.01.
| Item 9.01 | Financial Statements and Exhibits |
| Exhibit No. | Description |
| 10.1 | Amended and Restated Agreement, dated as of November 10, 2020 by and between Sturm, Ruger, & Co., Inc. and Christopher J. Killoy. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| STURM, RUGER & COMPANY, INC. | |||
| By: | /S/ THOMAS A. DINEEN | ||
| Name: | Thomas A. Dineen | ||
| Title: | Principal Financial Officer, | ||
| Principal Accounting Officer, | |||
| Senior Vice President, Treasurer and | |||
| Chief Financial Officer | |||
| Dated: November 12, 2020 | |||
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